Performance Evaluation of Equity-Linked Saving Schemes in India

Abstract

Mutual funds are the financial intermediaries that pool money from small investors and then they invest into different investment avenues. The mutual fund industry has seen an upward trend since 1963. The growth in the industry is seen due to the rise in private fund houses, increase in awareness by various fund houses and so on. Many investors have shifted their investments to mutual fund due to a higher growth potential of earning income and capital appreciation. ELSS is a tax saving Investment Avenue that is available to investors under section 80 C of income tax Act, 1961. The objective of this paper is to study the performance of ELSS on the basis of returns & risk adjusted measures and to know the degree of risk involved in ELSS. The Findings of this study will be useful to investors for their future investment decisions with respect to the selection of the ELSS schemes.